Hungary: Frozen Fish Market 2024

Frozen Fish Market Size in Hungary

In 2022, the Hungarian frozen fish market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen fish consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Frozen Fish Production in Hungary

In value terms, frozen fish production reduced slightly to $X in 2022 estimated in export price. In general, production saw a abrupt descent. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports from Hungary

In 2022, shipments abroad of frozen fish increased by X% to X tons, rising for the second year in a row after five years of decline. Overall, exports, however, recorded a slight setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, frozen fish exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons), Austria (X tons) and Slovakia (X tons) were the main destinations of frozen fish exports from Hungary, together comprising X% of total exports. Serbia, Romania, Lithuania, Croatia, Slovenia, Germany and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Slovakia ($X) and Romania ($X) constituted the largest markets for frozen fish exported from Hungary worldwide, together comprising X% of total exports. Italy, Croatia, Lithuania, Slovenia, Serbia, Germany and the Netherlands lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Lithuania, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen fish export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell slightly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into Hungary

For the third consecutive year, Hungary recorded growth in supplies from abroad of frozen fish, which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, frozen fish imports expanded significantly to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of frozen fish to Hungary, with a X% share of total imports. Moreover, frozen fish imports from Spain exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was taken by Slovenia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Slovenia (X% per year).

In value terms, the largest frozen fish suppliers to Hungary were Spain ($X), the Netherlands ($X) and Poland ($X), with a combined X% share of total imports. Slovakia, Denmark, Sweden, Slovenia, Croatia, Ukraine, Germany, China, Vietnam and Kazakhstan lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Sweden, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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